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20121205
20121213
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reporter on the latest in the senate on president obama's proposal on the fiscal cliff and the debt ceiling. this is about five minutes. >> andrew taylor covers congress for the associated press. there were some attempts by mitch mcconnell to get roll-call votes on the president's debt plan and his fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying to embarrass the democrats. for instance, the president's plan on the debt ceiling was basically allowing the president to request whatever increases without the approval of congress and he thought that would embarrass democrats if they had to vote for it particularly endangered ones. >> sounded like leader reid took the bait. how the democrats respond? >> guest: there are a lot in politics going on here. we just talked about politics from mcconnell's side. democrats are aware that even if they allow -- even if they get the republicans to crumble on raising tax rates for upper bracket people there is still going to be a need next year, say march, to increase the debt limit and that was what john boehner
the street -- it includes finding a way to fix the debt. i'd make one other point on the fiscal cliff. i mentioned i thought the campaign was over. but yesterday the president was in michigan at what looked like a campaign event to me. and it seemed to me that the time might have been better spent here working on the fiscal cliff that he was there. by my way of thinking, he was encourage the people of michigan to continue to deny working people the right to not have to pay union dues in order to get a job. and, second, to continue to perpetuate a system that will keep our auto industry from being competitive enough to compete in the world marketplace. michigan is today on the verge of becoming the 24th right-to-work state in the united states. the senate and the house passed a bill in michigan. now they passed it again today. i understand the governor is about to consider whether to sign it. and this is what it will do. it will ensure that employees in michigan won't have to pay union dues in order to get or keep a job. the president said that michigan legislators shouldn't be taking awa
with the fiscal cliff and dealing with our debt situation and not have a debt ceiling hanging out there as a diversionary but dangerous issue. but for some reason, inexplicable, the minority leader, the republican leader, changed his mind. now, he said on the floor well, important measures deserve 60 votes, but when he brought it up earlier, he acted as if he was in favor of it, he was offering it. and now, of course, essaying no, he's going to object to his own resolution. i wish he would reconsider. again, playing -- using the debt ceiling as leverage, using the debt ceiling as a threat, using the debt ceiling as a way to achieve a different agenda is dangerous. it's playing with fire. and yet, with the opportunity to take that off the table, reassure the markets, the minority leader blinked. i don't know why. it's hard to figure out the strategy that he's employing, but we would hope on this side of the aisle -- and i think i speak for all of us -- that he would reconsider and perhaps early next week let us vote on his own resolution. i yield the floor. mr. schumer: i notice th
to gdp. now, we don't want to get there that we. the same way we don't want to go over the fiscal cliff. in other words, the fiscal cliff is a big austerity. we get $7 trillion in the deficit reduction over the last ten years. but you don't do it the way we want to do it. when it comes to the baseline, we have to work together as part of an agreement to get the right baseline but that doesn't mean it is not for real world deficit reduction. it is. does it mean that it's better than the current law? maybe not. but there is an agreement that in the fiscal cliff is not the best way. >> we could add the baseline. the deficit to gdp. >> you said the deficit. >> you look at the current line baseline and get under 1% of deficit to gdp. >> seven years and 7 trillion of debt reduction. if anybody wants to read more about, please look at that space on what it takes. i thank you all for being here today. one reason we have to end it is that these people are going to be so instrumental in getting us out of this mess that we have to get them back to work. >> , come thank you. [applause] >> more abou
a successful outcome not just to these fiscal cliff talks, but also to this longer-term issue of debt and deficit and economic growth. i was asked today to focus a little bit on what might be possible in terms of tax reform. i know tax reform and health care reform are the two topics we're discussing this morning and, again, i look forward to hearing from gene and also this distinguished panel behind us. with regard to the tax and health care reform issues, i'll make a simple point which is that if we go through this fiscal cliff discussion and do not take advantage of that opportunity to put in place reforms to the entitlement programs which are incredibly important but also up sustainable, and if we do not take advantage of it to look at our tax system which is antiquated, outdated, inefficient, we will have swappedderred the opportunity to really -- squanders the opportunity to address the long-term problem. we'll be right back on the cliff again. so the first fiscal cliff is approaching, we have to address it. if we do not, we'll see about $500 billion in tax increases, we'll see
are facing the fiscal cliff. last year we were facing the debt ceiling standoff, before that we were looking at several shutdowns it seems like abnormal and it seems abnormal in this type of situation where we are already looking ahead to the next potential shutdown for the next debt ceiling altercation. this creates uncertainty in a normal way so how can the congress breakout of this. >> it is in a timely manner. you know, obviously like in maryland we have a lot of contractor defense contractors very concerned about sequestering. i love the fact that many of them say warmer, and do simpson-bowles don't do sequester. everybody's smart and everybody's read it. the top line numbers are almost the same, and a memo to congress the next time you devotee fault don't make it so all of that you actually put a gun to your forehead which is kind of what we have done and through the the fault which i hope would be something a little bit going for it. i completely concur with you on the notion that maybe the most ridiculous thing that has taken place in the last couple of years from those who say they
to be part of any agreement to avoid the fiscal cliff? >> i think it should be. this is serious business. we get questions all the time what's the deal going to be, really isn't a game nor is it the deal. serious fiscal and tax policy, about the economic future of our country, about the great country will live in and continue to be the greatest country and economy in the world. and we have different opinions about that. i'm with the president on this one. we saw what happened to economies on response in the market when the republicans were willing to go off the cliff. the republicans are saying it now, not pay our debt, not pay are full, jeopardize the full faith and credit of the united states. this is not a game. it is serious business. we don't pay our bills, we don't pay our debt, the interest rates go up and it will be harder to borrow. it's not where you make a decision about spending and about the budget. we've already made those decisions. this is about paying the bills. we are not happy about it, we shouldn't be. the debt is serious in this country. we have to get the deficit under
of the opportunity we have now with the fiscal cliff debate to bring attention to it because i don't think it's getting enough attention. there's no greater threat to america's growth and prosperity than our uncontrolled national debt. currently the country posts -- country's debt exceeds $16 trillion. we face the so-called fiscal cliff that could send our economy into another recession. in these difficult times we're challenged by people we represent to find real solutions, not short-term band-aids. as we move forward, it's clear that we must discuss spending. emphasize that word "spending." i know that president obama is hyperfocussed on increasing taxes as part of his deficit-reduction proposal, and i think the the election shows that he's legitimate in doing that. but he could have really declared victory about three weeks ago and in the three weeks since then spend time talking about the expenditure side of the ledger. because if we're going to be serious about reducing our debt, we must talk about spending. not some time next year, not only after we talk about taxes. we must talk about
the arrangement created between the white house and congress during this fiscal dilemma where we raise the debt ceiling by one dollar or every dollar in cuts that are made, i think that's an appropriate arrangement for us until we get through this fiscal cliff issue. again, what i'd rather see happen is that we just deal with that all right now and we start off next year with people know that's done. since it looks like every day that goes by it looks like it's increasingly unlikely that that's going to happen, i wanted to offer a proposal today for the leadership of the senate and that is since it looks like the debt ceiling could be coming up early next year, as a matter of fact, it may coincide very closely with the continuing resolution so there's two, if you will, moments in time where we've got to make big decisions here for our country, i would offer that we go ahead and begin the process of the debt ceiling and i would make the proposal that the first roughly $1 trillion, $900 billion to $1 trillion in raises in the debt ceiling are accompanied by $900 billion to $1 trillion in cuts in
's desk is the quickest and most sensible way out of this crisis. avoiding the fiscal cliff is no excuse for republicans to replace this artificial crisis with another one. congress should pass the proposal to end periodic standoffs over the debt ceiling. this plan would give president obama the authority to avoid default over the nation's bills. democrats are ready to vote any time but first senator mcconnell needs to stop filibustering his own legislation rhode island now speaker boehner and minority leader mcconnell are the only thing standing between congress and compromise. it's time for them to prove to american families that they're more interested in protecting the medal class than pleasing the tea party. mr. president, on another subject, i rise to honor our colleague, the senior senator from nebraska, ben nelson, upon his retirement from the united states senate, to become effective after the first of the year. for 12 years senator nelson has been a valued member of the democratic caucus and an exemplary senator for nebraska and the country. but his life in public service leads
Search Results 0 to 9 of about 10